Weekly Investment Analysts’ Ratings Updates for DraftKings (DKNG)

Several analysts have recently updated their ratings and price targets for DraftKings (NASDAQ: DKNG):

  • 5/9/2022 – DraftKings had its price target lowered by analysts at Northland Securities from $40.00 to $25.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Craig Hallum from $40.00 to $30.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Canaccord Genuity Group Inc. from $40.00 to $34.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Oppenheimer Holdings Inc. from $32.00 to $24.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Needham & Company LLC from $32.00 to $25.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $19.00 to $16.00.
  • 5/9/2022 – DraftKings had its price target lowered by analysts at Loop Capital from $35.00 to $25.00.
  • 5/4/2022 – DraftKings had its price target lowered by analysts at Cowen Inc from $60.00 to $50.00.
  • 4/25/2022 – DraftKings was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50 operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee and West Virginia. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR. “
  • 3/22/2022 – DraftKings was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirits of sports fans with products that range across daily fantasy, regulated gaming and digital media. DraftKings is the only U.S.-based vertically integrated sports betting operator. DraftKings is a multi-channel provider of sports betting and gaming technologies, powering sports and gaming entertainment for 50 operators across more than 15 regulated U.S. and global markets, including Arkansas and Oregon in the U.S. DraftKings’ Sportsbook offers mobile and retail betting for major U.S. and international sports and operates in the United States pursuant to regulations in Colorado, Illinois, Indiana, Iowa, Mississippi, New Hampshire, New Jersey, New York, Pennsylvania, Tennessee and West Virginia. DraftKings is the official daily fantasy partner of the NFL, MLB and the PGA TOUR as well as an authorized gaming operator of the NBA and MLB and an official betting operator of the PGA TOUR. “
  • 3/17/2022 – DraftKings had its price target lowered by analysts at UBS Group AG from $44.00 to $18.00. They now have a “neutral” rating on the stock.

Shares of DKNG stock opened at $11.37 on Friday. The stock has a market cap of $9.12 billion, a P/E ratio of -2.81 and a beta of 2.07. DraftKings Inc. has a 52 week low of $9.77 and a 52 week high of $64.58. The company has a quick ratio of 2.96, a current ratio of 2.96 and a debt-to-equity ratio of 0.74. The company’s fifty day simple moving average is $16.70 and its two-hundred day simple moving average is $25.09.

DraftKings (NASDAQ:DKNGGet Rating) last announced its quarterly earnings results on Friday, February 18th. The company reported ($0.80) EPS for the quarter, topping the consensus estimate of ($0.82) by $0.02. The business had revenue of $473.33 million for the quarter, compared to analysts’ expectations of $438.46 million. DraftKings had a negative net margin of 117.39% and a negative return on equity of 86.40%. During the same quarter in the previous year, the company earned ($0.69) EPS. On average, analysts anticipate that DraftKings Inc. will post -3.79 EPS for the current fiscal year.

In other news, insider Matthew Kalish sold 295,579 shares of the business’s stock in a transaction dated Tuesday, March 8th. The shares were sold at an average price of $17.60, for a total value of $5,202,190.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Jason Robins sold 338,027 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $15.58, for a total transaction of $5,266,460.66. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 190,000 shares of company stock worth $3,608,000 and sold 1,316,922 shares worth $25,319,815. Insiders own 55.92% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. Cibc World Market Inc. grew its holdings in DraftKings by 26.2% during the 1st quarter. Cibc World Market Inc. now owns 21,719 shares of the company’s stock valued at $423,000 after purchasing an additional 4,512 shares during the last quarter. Panagora Asset Management Inc. grew its holdings in DraftKings by 49.0% during the 1st quarter. Panagora Asset Management Inc. now owns 29,993 shares of the company’s stock valued at $584,000 after purchasing an additional 9,866 shares during the last quarter. Jacob Asset Management of New York LLC grew its holdings in DraftKings by 12.6% during the 1st quarter. Jacob Asset Management of New York LLC now owns 119,354 shares of the company’s stock valued at $2,324,000 after purchasing an additional 13,329 shares during the last quarter. MetLife Investment Management LLC bought a new position in DraftKings during the 1st quarter valued at about $387,000. Finally, Tompkins Financial Corp bought a new position in DraftKings during the 1st quarter valued at about $27,000. Institutional investors own 33.91% of the company’s stock.

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It operates through two segments, Business-to-Consumer and Business-to-Business. The company provides users with daily fantasy sports, sports betting, and iGaming opportunities, as well as media and other online consumer products.

See Also

Receive News & Ratings for DraftKings Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for DraftKings Inc and related companies with MarketBeat.com's FREE daily email newsletter.